€11 million losses at 4FM
Accumulated losses at Choice Broadcasting, the company behind multi-city radio station Classic Hits 4FM, increased to €11.1 million in 2012, up from €9.5 million in 2011. The company owed €8.6 million to creditors.
Company directors include Mike Ormonde and Kevin Branigan, both of whom are shareholders in Bay Broadcasting - the Irish-owned radio investment company with a shareholding in Dublin rock station Radio Nova - which owns 99 per cent of Choice Broadcasting.
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